A spokesperson from India's ruling party, the Bharatiya Janata Party (BJP), suggested creating a strategic Bitcoin reserve to help the nation adapt to shifting global financial conditions.
Bhandari's Bitcoin Reserve Proposal
BJP spokesperson Pradeep Bhandari expressed the idea of establishing a Bitcoin reserve in India in a recent editorial for India Today. He pointed out that other countries, such as the United States and Bhutan, have already implemented similar initiatives, adapting their financial strategies to the realities of digital assets.
Challenges of Current Cryptocurrency Regulation
India imposes a flat tax of 30% on cryptocurrencies but maintains a largely unregulated environment. Current regulations include challenges such as a tax on outgoing transactions, complicating matters for market participants.
Global Examples and Strategic Significance
Bhandari also cited examples such as the United States' strategic Bitcoin reserve established in 2025 and Bhutan's approach of using hydropower for mining. These models demonstrate how countries can utilize their resources to integrate cryptocurrencies into national strategies.
The proposal for a Bitcoin reserve reflects India's desire to take an active role in the global digital asset economy, emphasizing the need for clear regulation to protect investors and stimulate innovation.
